New Wave Artist Residency Inc

Analysis

New Wave Artist Residency Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in July 2021, 5 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, New Wave Artist Residency Inc reported income of $270k and spending of $195k, leaving 28% of income unspent that year. Across the 2 years on record, from December 2021 to December 2022, income fell from $338k to $270k (-20%), an average of -20% a year. The sharpest change came in the year to December 2022, when income dropped by 20%. Over the whole period it spent 42% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New Wave Artist Residency Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 63rd percentile within FL. Charities of a similar size with the same main cause include International Association for Society and Natural Resources ($270k), Swan Scaling Walls a Note at a Time ($270k) and Northern Culture Exchange ($270k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 116% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $20k (10% of expenses). At year end it held assets of $398k against liabilities of $47k, net assets of $351k.